NSL CEO - Mr Paul Sayer

Written: 1 June 2023

The Association of Superannuation Funds of Papua New Guinea (ASFPNG) elected new Executives during its Special General Meeting on 5May 2023.

The new Executives are:

Paul Sayer – President

Rajeev Sharma – Treasurer

Charlie Gilichibi – Vice President/Secretary

Willie Konga – Ordinary Member

Ian Tarutia – Life Member

Mr Paul Sayer said he was thankful for his election as the new President of ASFPNG.

“I thank my fellow executives for their trust and confidence in me to lead our Association for the next two years.”

“I also pay tribute to Mr Ian Tarutia for serving as President since 2014 and for his distinguished services to Nasfund and the Superannuation Industry. He becomes the first Life Member of ASFPNG.”

“Our Association and members face challenging times ahead and I am confident we will continue to improve and expand our industry for the betterment of fund contributors.”

Mr Sayer said the Special General Meeting (SGM) also adopted the Association’s Audited Financial Accounts and endorsed its 2023 Activities Report, which included plans to increase membership and a media/public awareness program.

He added that ASFPNG would strive to fulfil its role as the mouthpiece of the Superannuation Industry in Papua New Guinea.

“As a peak industry body, ASFPNG will strive to promote the interests of our members and fund contributors. We will ensure that industry issues are captured in policy and law, and brought to the attention of relevant government authorities.”

“We have made submissions to three major Government-sanctioned reviews – Central Banking Act Review, Superannuation and Life Insurance Review and Taxation Review – and await their outcomes. We envisage that our submissions will help reshape PNG’s financial sector going forward.”

“ASFPNG will continue to support Bank South Pacific and other major banks to oppose the additional banking levy that was imposed by the Government in the 2023 Budget. We plan to hold a forum for interested participants to discuss this issue and find an amicable solution.”

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